Crypto hacks: October has become the worst month for crypto-related crimes with total losses of over $718 million, and that too with two weeks before the end of the month.
See also: Kim Kardashian faces huge fine for backing cryptocurrency
See also: Water Labbu group breaks into other hackers' crypto scam sites and "steals money"
Data highlighted by Chainalysis on Thursday noted that the amount was stolen from multiple decentralized finance (DeFi) protocols in eleven different attacks.
“2022 will likely surpass 2021 as the year with the most hacks on record,” Chainalysis researchers wrote. “So far, hackers have collected over $3 billion in 125 hacks.”.
Attackers made over $3.2 billion in 2021. But this year got off to a rocky start with a $325 million exploit of the popular cross-chain service Wormhole, followed by a $625 million attack on Axie Infinity's Ronin bridge, and then a $200 million exploit of the Nomad bridge.
Attackers in the crypto sector range from exploiting bridges, a blockchain-based tool that allows users to make transactions between different networks , to market manipulation.
This month alone, more than three bridges have been compromised, Chainalysis said. An attack over the weekend on a bridge based on BNB Chain netted hackers more than $100 million after the bridge was exploited for $566 million. Then, on Monday, the QANplatform blockchain was targeted in a bridge hack that resulted in the theft of nearly $1 million in QANX tokens.
See also: Hacker stole 566 million in crypto from Binance Bridge
Finally, on Tuesday night, $100 million in cash was drained from Solana's popular trading protocol Mango Markets after a rogue trader manipulated spot token prices to borrow the protocol against his position.
Information source: coindesk.com
